Superior Mining International Corporation
TSX VENTURE : SUI

Superior Mining International Corporation

April 06, 2010 08:30 ET

Superior Mining International Corporation: Acquisition of New Ground Adjacent to Defined Gold Zones on Victory Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2010) - Superior Mining International Corporation (the "Company") (TSX VENTURE:SUI) is pleased to announce that it has been issued an Exploration Permit (EP 52251) on ground immediately adjacent to that of the Victory property on which the Company has recently reported encouraging near surface gold intercepts from reverse circulation (RC) drilling.

The new property (referred to as "Victory North" - Figure 1: http://media3.marketwire.com/docs/0406SUI.pdf) comprises an elongate NE-SW block of 249.7 Ha with topographical linear highs of magnetite-gold bearing Pleistocene beach strandlines known as "blacksand leads". With the addition of the Victory North property the Company now has interest in approximately 18 km of the New Zealand coastline which hosts the targeted blacksand leads. An airborne helimag survey flown in 2008 by Southern Geoscience Consultants over the Victory property identified a number of shallow linear magnetic anomalies that are coincident with Quaternary-aged strandlines that visually can be traced on to, and along the Victory North property. Ground truthing of these anomalies on the northern part of the Victory property have identified two distinct target types: i) localized higher-grade embayment type strandline mineralization where moraine terraces have created lower energy depositional regimes, and ii) large tonnage potential exposed long-drift derived strandlines. It is the embayment target which the Company has recently identified a number of mineralized zones (+0.1 g/t Au or +200 mg/m³) through RC drilling, which will be the focus of a bulk sampling program in Q2 2010.

Documented historical exploration (Wood, 2003) over the property reports Bangka drilling from the 1930's intersecting significant gold intervals (+0.1 g/t Au) from 3 of 9 holes drilled to a maximum of 0.41 g/t Au over 9.1 metres from surface. More recent exploration the 1980's (Amax Exploration NZ Ltd.) focused on the alluvial gold potential of more easterly moraine terraces.

Preliminary exploration activities will comprise ground magnetic surveys, along with reconnaissance geological mapping and sampling where applicable. If results from bulk sampling are encouraging from strandlines that continue into the property from the Victory ground, the Company may elect to fast track the exploration process by undertaking a number of strategic test pits in the southern part of the property.

On behalf of the Board of Directors of Superior Mining International Corporation

John Proust, President & CEO

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/0406SUI.pdf

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Superior Mining International Corporation
    John Proust
    President & CEO
    (604) 601-2005
    (604) 488-0319 (FAX)